HAVACILIK İŞLETMELERİNDE RASYO YÖNTEMİ İLE FİNANSAL PERFORMANS ÖLÇÜMÜ: BORSA İSTANBUL (BİST)’DA İŞLEM GÖREN İKİ HAVAYOLU İŞLETMESİ ÜZERİNE BİR ARAŞTIRMA
MEASUREMENT OF FINANCIAL PERFORMANCE BY RATIO METHOD IN AVIATION ENTERPRISES: A RESEARCH ON TWO AIRLINES ENTERPRISES TRADING IN THE ISTANBUL STOCK MARKET

Summary/Abstract: Aim: Aviation enterprises are comprised of enterprises that spread over a wide area and operate in more than one sub-sector. These enterprises; it is divided into three groups: airline enterprises, airport enterprises and ground handling enterprises. Within this structure, it is possible to state that the enterprises that make the biggest contribution to the aviation sector are airline enterprises. Measuring the financial performance of airline enterprises and evaluating their results are of great importance in order to ensure that the decisions to be made by both airline managers and other financial information users are healthy. Financial performance management has become even more important in airline enterprises, especially due to factors such as the rapid developments in the aviation industry and the increasing competitive environment. Financial performance indicators are among the most important indicators used in the planning and decision making processes of financial information users. There are various performance measurement methods that can be used in airline enterprises. The most frequently used method among these methods is ratio method. The aim of this study is to analyze the financial performances of airline enterprises with the ratio method and to reveal the results.Method: In line with this purpose, the annual financial statements of Turkish Airlines Inc. and Pegasus Airlines Inc., which are publicly traded on Istanbul Stock Market, were obtained from the Public Disclosure Platform (KAP) and analyzed by ratio method.Findings: In the light of the financial statements, the financial performances of both airlines have been measured and it has been determined that the liquidity ratios of both airlines differ from the standard (ideal) ratios, financial structure ratios are close to each other, assets are predominantly financed by foreign sources, The activity rates of Pegasus Airlines Inc. are better than Turkish Airlines Inc., both airline companies performed close to each other in their profitability rates.Results: As a result of the financial performance measurement made by the ratio method, it is obvious that the financial performance of Pegasus Airlines is more successful than Turkish Airlines Inc. For this reason, it has been concluded that Pegasus Airlines Inc. has a more advantageous and attractive position in the sector in terms of investment compared to Türk Airlines.

• Details
• Contents